Raymond James Financial Inc. Makes New Investment in Rocky Brands, Inc. (NASDAQ:RCKY)

Raymond James Financial Inc. purchased a new position in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 422,939 shares of the textile maker's stock, valued at approximately $9,643,000. Raymond James Financial Inc. owned approximately 5.68% of Rocky Brands as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Rocky Brands by 0.3% in the 3rd quarter. FMR LLC now owns 1,117,353 shares of the textile maker's stock valued at $35,599,000 after purchasing an additional 3,883 shares during the period. Geode Capital Management LLC grew its position in Rocky Brands by 4.6% in the third quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker's stock valued at $5,364,000 after acquiring an additional 7,353 shares during the period. State Street Corp raised its stake in Rocky Brands by 0.4% during the third quarter. State Street Corp now owns 134,249 shares of the textile maker's stock worth $4,277,000 after acquiring an additional 586 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Rocky Brands by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker's stock valued at $1,737,000 after acquiring an additional 10,584 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of Rocky Brands by 4.8% in the 4th quarter. Empowered Funds LLC now owns 32,467 shares of the textile maker's stock valued at $740,000 after purchasing an additional 1,473 shares in the last quarter. Institutional investors own 75.06% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Rocky Brands from a "buy" rating to a "hold" rating in a research report on Saturday, February 8th.

Rocky Brands Price Performance

Shares of RCKY traded down $0.56 on Tuesday, hitting $17.95. The company's stock had a trading volume of 45,327 shares, compared to its average volume of 43,179. The company has a market capitalization of $133.96 million, a PE ratio of 10.08 and a beta of 2.18. Rocky Brands, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $40.14. The company has a 50 day moving average price of $22.21 and a 200 day moving average price of $24.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The textile maker reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The business had revenue of $128.05 million during the quarter, compared to analyst estimates of $125.44 million.

Rocky Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Monday, March 3rd. Rocky Brands's dividend payout ratio is currently 41.06%.

Rocky Brands Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.